Best Crypto to Buy in South Africa – Beginner’s Guide 2023

Traders around the world are investing in cryptocurrencies as they become more popular. Over the past few years, Bitcoin’s exponential growth has outpaced other asset classes, making it an attractive choice for investors seeking quick returns. Despite this, many people are unsure how to choose the right cryptocurrency.

This guide aims to provide you general information about the best crypto to buy in South Africa and how to trade cryptocurrencies.

Best Crypto to Buy in South Africa – List

1. Wall Street Memes – The Best Meme Project With Support from Elon Musk
2. Bitcoin BSC – A Unique Opportunity for Crypto Investors in South Africa
3. Sonik – A meme coin with a presale hard cap of $2 million and a unique staking concept
4. Launchpad XYZ – Web3 crypto project for beginners
5. yPredict  – A cryptocurrency analytics platform that harnesses the power of artificial intelligence
6. Chimpzee – Cryptocurrency that aims to protect the environment and help wildlife
7. XRP20 – If you always thought that you missed XRP in the beginning, here is the never-to-be-returned opportunity to blow up the bank with the “new XRP”
8. BTC20 – New ERC-20 Crypto with PoS system
9. Bitcoin
10. Ethereum

Best Crypto to Buy in South Africa – Step by Step Guide 2023

1. Wall Street Memes – The Best Meme Project With Support from Elon Musk

Wall Street Memes with its native $WSM token is a popular social media platform through which investors and traders are encourage to troll the financial markets. The platform has attracted attention from large players around the world including Elon Musk himself.

$WSM is an ERC20 and web2 meme token with no real utility other than to gain value over time. The max supply of tokens is 2 billion- 50% of the tokens are available to buy through presale, 30% will be used for exchange listings, 10% will be used for airdrops and 10% of tokens will be held for project development.

To invest in $WSM, simply connect your crypto wallet to the presale website and swap ETH for $WSM tokens.

Your capital is at risk.

2. Bitcoin BSC – A Unique Opportunity for Crypto Investors in South Africa

Have you missed out on the famous Bitcoin cryptocurrency and now you are looking for a new alternative with growth potential? Bitcoin BSC is a new token that aims to give crypto enthusiasts the chance to buy a new version of Bitcoin, but at the same historical price from the 2011 pre-sale. It is important to note that the new project is not an extension of Bitcoin, but rather a standalone token that has nothing to do with the Bitcoin developers. If you’re wondering how Bitcoin BSC differs from the well-known cryptocurrency, it’s an eco-friendly BEP-20 token that has also developed an eco-friendly mechanism for BTCBSC holders.

Thanks to this mechanism, holders will be able to earn long-term rewards. Apart from the stakes and rewards, the advantage of the Bitcoin BSC token is that it uses the BNB Smart Chain, which is based on the Ethereum code and provides both proven security and smart contract capabilities. In addition, as a green token, you have the opportunity to save money on gas taxes as BNB Smart Chain transactions are faster and cheaper than Ethereum.

Investors interested in this BSC bitcoin investment opportunity can purchase the BTCBSC token right now for just $0.99. All you have to do is visit the official pre-sale page and join a growing project.

Your money is at risk.

3. Sonik – A meme coin with a presale hard cap of $2 million and a unique staking concept

Sonik Coin is a new meme coin inspired by the popular Sonic the Hedgehog franchise with a unique staking concept.

$SONIK is created according to the ERC-20 standard on the Ethereum blockchain. Therefore, the coin supports staking, allowing investors to lock their tokens in a smart contract in exchange for interest.

The project came to market with the goal of becoming the fastest meme coin to go from zero to $100 million, which is the initial goal of the project. SONIK will list with a small market cap of $4.2 million after the pre-sale ends, so hitting the target represents a nearly 25x return for early investors.

Sonik Coin’s pro-community approach is demonstrated by the project’s well-thought-out tokenomics. 149,286,229,000 tokens have been created and half of them are available for purchase in the pre-sale. 40% of the tokens will serve as staking rewards and 10% is for liquidity.

Your capital is at risk.

3. Launchpad XYZ – Web3 crypto project for beginners

Launchpad XYZ is a web3 project that allows users to access a plethora of applications including decentralized exchanges, defi wallets, NFTs, crypto presales, crypto games, trading platforms, educational resources and more. Users can also stake through the platform to earn passive income from their crypto holdings.

The project has a very strong roadmap that sets it up to be completed by the end of the year. Launchpad aims to attract 10 million users by Q4 2023 and raise a market cap of 10 billion by the same time.

One of the most appealing features of the platform is its humanized designed, which will make it easy to navigate the world of web3. Launchpad aims to be a one stop shop for all things web3 and is on track to explode this year.

The native token of the platform is LPX. LPX is an Ethereum based asset with a deflationary supply that will be burnt over time. LPX has strong utility and fundamentals which makes it a great investment opportunity for anyone who is interested in profiting from the Launchpad XYZ project.

Your capital is at risk.

4. yPredict  – A cryptocurrency analytics platform that harnesses the power of artificial intelligence

The primary reason for yPredict being this important is the very special use of both artificial intelligence and blockchain technology. The developers correctly recognized that the increasingly large number of trading bots and algorithms used by institutions make it extremely difficult for retail investors to continuously become professionals.

This is exactly why yPredict is so important, as the ecosystem allows everyone to make professional trades with the help of artificial intelligence without complicated analysis.

yPredict will essentially be a trading and analytics platform that users will be able to use with YPRED tokens using Polygon’s network.

Countless analytical tools, indicators, trading pattern analyzers and Ai signals will be available on the yPredict website, many of them for free. Thanks to this step, the developers will certainly be able to create a community of significant size in a short period of time, which will definitely be reflected in the token price.

What makes yPredict the best part is its AI trading model marketplace. It will essentially be an interface through which developers, quantitative analysts and professional traders can sell the forecasting models they have created.

Since these models will be in a subscription system via the marketplace, you will be able to subscribe to several different products at a low price. In addition, it will be possible to check which model has proven to be the most reliable, which will make it much easier for dealers to find the ideal device.

Your capital is at risk.

5. Chimpzee – Cryptocurrency that aims to protect the environment and help wildlife

Chimpzee is a blockchain-based Web3 crypto project that aims to help the environment and wild and endangered animals. You too can participate in this extraordinary crypto initiative. And what’s even better, while helping to make the world a better place, you can earn extra income.

The ecosystem is built on three pillars, with each of which you can earn passive income. These are Chimpzee Shop, Chimpzee NFT Marketplace and Chimpzee Zero Tolerance Game.

• The Chimpzee Store is the Shop2Earn element of the project, which allows you to earn CHMPZ tokens every time you buy unique products and goods in the store. Through the Store, you can spend and earn CHMPZ tokens when community members buy your Chimpzee-branded products.
• The Chimpzee NFT marketplace is a Trade2Earn element. This marketplace has a unique profit sharing mechanism. A portion of the trading fees is split between Diamond NFT passport holders and those who actively trade in the market. The NFT marketplace favors environmentally friendly NFTs.
• The Chimpzee Zero Tolerance game is the P2E element of the ecosystem, which is the fun part of the project. This addictive game allows users to earn CHMPZ tokens after reaching certain milestones.

The developers donated $15,000 to the WILD Foundation. This charity works to help animals around the world through The Giving Block charity crypto payments organization. This donation helps protect one of the world’s last endangered desert elephants. Thanks to Chimpzee, you can get support from Eco Guards, which protects these animals. In the future, Chimpzee will be donating to many more organizations to make the world a better place.

Your capital is at risk.

6. XRP20 – If you always thought that you missed XRP in the beginning, here is the never-to-be-returned opportunity to blow up the bank with the “new XRP”

XRP certainly does not need to be introduced to anyone, as the project has long been one of the most important players in the crypto world. The coins first became available in 2013, and then in 2018, the exchange rate increased by nearly 25,000% in just 3-4 months. Although it is of course possible to buy XRP at a lower price since then, the token is currently the 5th project with the largest market share.

However, XRP20 will definitely be able to earn the trust of crypto traders, as it offers active and passive income at the same time, in addition, the coin works in green and is based on a deflation mechanism. The soft cap of the project is only 1.85 million dollars.

While the low entry price gives everyone the opportunity to buy into the coins ahead of the upcoming bull run, Ethereum’s network allows for passive income through staking. All you have to do to do this is to pledge your coins and you will already receive the regular rewards.

Unlike Bitcoin, Ethereum’s network uses minimal energy. Therefore, holders of ERC-20 coins (including you if you join XRP20 investors) leave a minimal ecological footprint.

And the best thing is that after each transaction, a part of the entire coin pool is burned. In other words, as time progresses, fewer and fewer tokens will be available, so the price of XRP20 will constantly rise.

If you’re interested in the project, you can join in no time, as all you need is a crypto wallet and some ETH or USDT.

Your capital is at risk.

7. BTC20 – New ERC-20 Crypto with PoS system

BTC20 is a new crypto that will replicate Bitcoins journey but will use Ethereum-based PoS instead of PoW. Not only will this make BTC20 more sustainable than Bitcoin, it will make the token more accessible and easier to use.

One of the most appealing aspects of BTC20 is that investors can earn passive income by staking tokens for rewards. Rewards are released in line with the original Bitcoin mining release schedule and the staking contract is locked for 120 years, just like Bitcoin’s mining process.

BTC20 has a total supply of 21 million tokens. 6.05 million of these tokens are available to buy through the ongoing presale for $1. The remaining tokens will be locked into the staking contract and released gradually over time.

Your capital is at risk.

8. BTC (Bitcoin)

The price charts of cryptocurrencies have always caught the eye since the launch of Bitcoin in 2009. Additionally, cryptocurrency’s popularity has increased due to recent financial market developments. Bitcoin represents a large portion of the entire cryptocurrency market capitalization, making it an obvious choice for investors seeking a competitive edge.

Approximately $3 trillion is the market capitalization of Bitcoin. The cryptocurrency reached an all-time high of $69,000 in November 2021. Bitcoin is one of the leading payment networks, so Visa and Tesla accept it as a payment processor. In addition, it offers many advantages for its users that make it different from many other currencies.

According to a long-term price prediction, Bitcoin could reach $330,000 by 2025, making it a great long-term investment. Despite its deflationary tendencies, Bitcoin still holds a dominant position in the crypto charts due to its deflationary aspects.

Due to its strong fundamentals and long market presence, it is less vulnerable to price crashes in the future, despite historically having a bearish trend. A currency such as this can also benefit traders and investors.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

9. ETH (Ethereum)

Ethereum has the second-highest market capitalization across the entire crypto ecosystem, behind only Bitcoin. Using a consensus proof-of-work algorithm facilitates decentralized financial exchanges. Proof-of-stake will be implemented in the future.

With these open-source, decentralized blockchain networks, developers can develop decentralized applications (dapps) and smart contracts without relying on a third party.

Ethereum is an excellent alternative to Bitcoin because of all these factors. Additionally, the Ethereum platform has created decentralized financial products that anyone can access, regardless of their faith or nationality.

Since its launch on the financial market, XRP has become one of the most successful cryptocurrencies. The value of Ethereum has increased by more than one hundred thousand percent since its launch, making investors smile.

The price trend of this coin on the crypto market has been bullish lately. Moreover, decentral financing will reach every sector in the coming years thanks to Ethereum’s DApp and DeFi technologies.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

What is a Crypto?

In a digital currency, cryptocurrencies are digital currencies exchanged for conventional currencies. It is highly protected by blockchain technology as a digital currency, making it impossible to counterfeit. The blockchain is a public ledger created by a network of computers that are not connected. Furthermore, blockchains are highly decentralized, meaning a central bank does not launch them. Instead, they are mined by computers around the world.

Currently, Bitcoin is the currency with the largest market capitalization. Altcoins other than Bitcoin are considered cryptos, and their prices are often highly correlated with crypto prices.

There are several types of altcoins, each with its characteristics. Most altcoins are mining-based. Computers are used to mine these coins all over the world. Each coin’s ownership and authenticity are tracked via the blockchain, maintained by a group of computers. However, not all cryptocurrencies require mining. Offerings of initial coins, or ICOs, facilitate the creation of coins.

Since Cryptocurrencies are often mined or listed through ICOs, they must have a mechanism that prevents them from becoming highly inflationary assets. For this reason, most cryptocurrencies have a limited supply. For example, bitcoin mining has slowed over the years, and the rate at which it can be mined has decreased. Consequently, the supply cap for Bitcoin will be reached in 2140, at which point no more Bitcoins will be mined.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Why Invest in a Cryptocurrency?

Over the past few years, cryptocurrency has become increasingly popular, but many consumers and investors may wonder what the fuss is about. Why would anyone choose cryptocurrency when local currencies work just fine for most things? Why would anyone invest in cryptocurrency?

Utilizing and investing in cryptocurrencies has many benefits. The following are a few to consider.

Transaction speed

Cryptocurrency is one of the fastest ways to transfer money or assets from one account to another. Financial institutions typically settle transactions within three to five days. Wire transfers usually take at least 24 hours. Stock trades typically settle after three days.

Bitcoin transactions can be completed within minutes, one of their advantages. As soon as the network confirms the block containing your transaction, the transaction is settled, and the funds are available for use.

Transaction costs

Transacting in cryptocurrency is relatively cheap compared to other financial services. Domestic wire transfers can cost up to $30, for example. International transfers are even more expensive.

Transactions involving cryptocurrency are usually cheaper. Demand on the blockchain, however, can increase transaction costs. Nevertheless, even on the busiest blockchains, median transaction fees remain lower than wire transfer fees.

Accessibility

Everybody can use cryptocurrency; all they need is a computer or smartphone and access to the internet. Setting up a cryptocurrency wallet is very fast compared to opening an account at a traditional financial institution. Identification is not required. There is no credit or background check.

Cryptocurrency enables the unbanked to access financial services without a centralized authority. There are many reasons why someone may be unable or unwilling to open a traditional bank account. In addition, making online transactions or sending money to loved ones using cryptocurrency is possible if you don’t use traditional banking services.

Security

The private key for your crypto wallet must be obtained before someone can sign transactions or access your funds. You can’t also recover your funds if you lose your private key.

Furthermore, transactions are secure due to the nature of the blockchain system and the distributed network of computers verifying them. The more computing power added to the network, the more secure it becomes.

Attempts to attack the network or modify the blockchain would require enough computing power to verify multiple blocks before the rest of the network could verify the ledger’s accuracy. In addition, this kind of attack is prohibitively expensive for popular blockchains such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

Most cryptocurrency accounts are hacked because of inadequate security at centralized exchanges. Your crypto assets are far more secure if you keep them in your wallet.

Privacy

Transacting with cryptocurrency does not require you to open an account with a financial institution so that you can maintain privacy. In addition, transactions are pseudonymous, which means you have an identifier on the blockchain – your wallet address – but it does not contain any information about you.

In many cases (both innocent and illicit), this level of privacy can be desirable. Therefore, all transaction data is public if a wallet address is linked to an identity. As a result, it is possible to mask transactions further and create privacy-focused coins to further enhance the private nature of cryptocurrency.

Transparency

Transactions involving cryptocurrency occur on the public blockchain ledger. One can look up transaction data for a cryptocurrency address, including where, when, and how much the sender sent. The amount of cryptocurrency stored in a wallet can also be viewed.

Transparency reduces the possibility of fraudulent transactions. For example, if someone sends money and it is received or has available funds for a transaction, they can prove it.

Diversification

Investors can diversify their portfolios by investing in cryptocurrency instead of traditional financial assets such as stocks and bonds. Although there is a limited history of the price action of crypto markets concerning stocks or bonds, the prices seem uncorrelated with other markets. Therefore, they are a good way to diversify a portfolio.

When you combine assets with minimal price correlation, you can generate a more steady return. For example, you might see your crypto assets rise if your stock portfolio goes down and vice versa. Generally, crypto is very volatile and may increase the volatility of your overall portfolio if your asset allocation is skewed too heavily towards crypto.

Inflation protection

Bitcoin and other cryptocurrencies are seen as protection against inflation by many. Currently, Bitcoin has a hard cap on the number of coins it will ever generate. However, because the growth in money supply outpaces the growth in Bitcoin supply, the price of Bitcoin should increase. Several other cryptocurrencies use supply-cap mechanisms and can act as a hedge against inflation.

Buying Cryptos Safely

Investing in cryptocurrencies does not come with any guarantees. However, if cryptocurrency is launched smoothly and widely, it will increase the demand for goods and services. The fact that cryptocurrencies encounter new and unique concepts every day makes that quite likely. Additionally, blockchain technology is advancing rapidly. Thus, it is impossible to predict when another cryptocurrency with superior energy efficiency and technological advancement will be released, rendering the current ones obsolete and lowering their prices.

In addition, investing in anonymous projects like cryptocurrencies carries the risk that a flaw in the code may allow developers to scam investors out of their cryptocurrencies. DeFi loses millions of dollars to scams every year due to its wild west nature. This possibility could be eliminated if code auditors were given access to the code, but most cryptocurrencies have not been audited yet, so this cannot be accomplished.

Risks of Buying Cryptos

Today, investing in cheap crypto is a good investment due to its community function rather than its utility function. Consequently, Boneparth, who has invested in the best crypto to buy since 2014, explains that the community’s success determines its fortune. However, investing in cryptocurrencies involves high risk, as experts warn that you could lose your money. No matter which cryptocurrency you choose, you should never invest more than you can afford to lose.

In addition to structure, supply, and use, altcoins differ from bitcoin in several ways, making them a riskier investment option. Bitcoin was introduced in 2009 as an electronic cash system based on peer-to-peer technology. A blockchain ecosystem has been developed to support the Bitcoin electronic cash system. Bitcoins are considered scarce because of their limited supply. As a result, its holders can expect to be recognized in the future as an important decentralized digital currency. In general, altcoins lack these features, making them incompatible with the infrastructure designed for the Bitcoin blockchain.

According to Brett Harrison, the cryptocurrency exchange FTX US president, cryptocurrency investment is extremely risky. In other words, rather than investing in crypto-assets based on hype, Harrison looks for assets that have specific utility.

Crypto assets are attracting a growing number of investors. Marcus says they can be used as a store of value, facilitate an efficient mechanism for transferring funds, or even serve as a platform for developing blockchain-based applications. In addition, many of these assets could be useful to retailers. However, cryptocurrencies should be invested cautiously.

Selling Cryptos

You will be able to sell cryptocurrencies based on the trading platform. Capital, for example, lets you sell stocks in your portfolio by clicking the sell button. Next, click the place order button after selecting the amount and type of order you wish to place.

To operate your platform, you will convert the cryptocurrencies you own into fiat currency. Besides using a cryptocurrency exchange, you have other options. For example, you may want to convert your cryptocurrency into Ethereum, Bitcoin, or Binance Coin, along with various fiat currencies. The cryptocurrencies will be stored in your wallet on the platform.

Where to Buy Cryptos?

OKX is the best place to buy crypto in South Africa.

Best Way to Buy Cryptos in South Africa – OKX Tutorial

Invest in crypto with OKX, our recommended digital asset trading platform, if you already know what you want to buy and have a lot of conviction in the cryptocurrency world.

Step 1: Open an Account

Here’s how you can buy crypto with OKX. Firstly, go to the platform’s website and click the Trade Now button. Next, fill out your desired email address and password. Alternatively, if you already have a Facebook, Google, or Apple account, you may link this.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Upload ID

Unverified accounts cannot hold any funds, so you’ll need to upload a valid ID to verify your account. You must upload an ID to verify your account, such as a driver’s license or passport.

Step 3: Deposit Funds

Having verified your account, you can now deposit funds into it. With OKX, you have a wide variety of deposit options, such as wire transfers, bank cards (Visa, MasterCard), and other foreign and local third-party channels, such as Skrill, Neteller, AstroPay, and QIWI.

Step 4: Buy Cryptos

Now, you can invest in crypto! Simply search for the cryptocurrency of your choice on your OKX dashboard. Then, if you buy or sell crypto on OKX, you use crypto derivatives.

$WSM – Best Crypto to Buy in South Africa 2023

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